White mortgage agents may charge minority borrowers higher mortgage fees

(Penn State) Mortgage seekers from minority groups may pay more in fees than similarly qualified white borrowers, according to a team of researchers.In a study, the researchers found that when minorities seek mortgages they pay about 8 percent more -- or $400 more -- than white borrowers when they seek loans from white mortgage agents. Mortgage agents can assess fees, such as the broker origination fee, which are negotiable, or can even be waived.

Source: EurekAlert! - Social and Behavioral Science - January 23, 2019 Category: International Medicine & Public Health Source Type: news